Theory of imperialism
Theory of Imperialism concerns the systemic outcomes of the tendency for the rate of profit to fall in the capitalist system, and the objective impact of the consequences of those dynamics, and counter-tendencies in the world economy is now generally associated with Marxian economics.[1] As such it is often considered distinct and differentiated from the history of Imperialism that extends through earlier historic periods[2] and economic formations. J. A. Hobson's liberal critique of the emerging phenomenon has consistently been considered as seminal by all writers on the subject, and preceding and influencing Hilferding, Lenin and Luxemburg's early studies and formulations.[3]
Kuruma in his 1929 Introduction to the Study of Crisis ends by noting "... my use of the term "theory of crisis" is not limited to the theory of economic crisis. This term naturally also encompasses the study of the necessity of imperialist world war as the explosion of the contradictions peculiar to modern capitalism. Imperialist world war itself is precisely crisis in its highest form. Thus, the theory of imperialism must be an extension of the theory of crisis."[4]
Recent scholarship by Lucia Pradella amongst the archives of still unpublished manuscripts of Marx's studies of the world economy on his arrival in London corroborates those who have argued that there was an immanent theory of imperialism in his writings.[5]
Further reading
- Marx, Karl
- Hobson, J.A. [1902] Imperialism: a Study[6]
- Hilferding, Rudolf [1910] 'Finance Capital. A Study of the Latest Phase of Capitalist Development' Ed. Tom Bottomore Routledge & Kegan Paul, London, 1981
- Luxemburg, Rosa [1913] 'The Accumulation of Capital: A Contribution to an Economic Explanation of Imperialism'
- Bukharin, Nikolai [1917] Imperialism and World Economy
- Lenin V.I. [1916] Imperialism, the Highest Stage of Capitalism
- Grossman, Henryk [1929] The Law of Accumulation and Breakdown of the Capitalist System
- Kuruma, Samezō [1929] An Introduction to the Study of Crisis Sep. 1929 issue of Journal of the Ohara Institute for Social Research, (vol. VI, no. 1) Translated by Michael Schauerte
- Pradella, Lucia ‘Marx ahead of Lenin: The current relevance of Marx’s theory of imperialism’, presentation to 2016 IIPPE Imperialism Today Workshop at SOAS, London
- Norfield, Tony [2016] The City: London and the Global Power of Finance, Verso, London
References
- ↑ Lenin V.I. [1916] Imperialism, the Highest Stage of Capitalism Marxists.org, retrieved 2016-11-23
- ↑ Robert Ligston Schuyler, The Rise of Anti-Imperialism in England in Political Science Quarterly (vol. 37 no. 3) September 1922 pp 440–471
- ↑ J.A. Hobson: Imperialism, A Study (1902)
- ↑ Samezō Kuruma, [1929] An Introduction to the Study of Crisis Sep. 1929 issue of Journal of the Ohara Institute for Social Research, (vol. VI, no. 1) Translated by Michael Schauerte
- ↑ Lucia Pradella ‘Marx ahead of Lenin: The current relevance of Marx’s theory of imperialism’, presentation to 2016 IIPPE Imperialism Today Workshop at SOAS, London
- ↑ "J.A. Hobson: Imperialism, A Study (1902)". Marxists.org. Retrieved 2016-11-23.